Business and Finance

As is the case with many cities in the northern United States, Erie Pennsylvania has seen some drastic economic changes over the last decade. While people with an Erie zip code could once count on any number of different industrial jobs as the mainstays of the local economy, that has all changed. Gone are the days when dozens of people were employed putting swaged fittings in place at hundreds of plants along the waterline. The ships which once plied the waters of the Great Lake have been greatly reduced in number, and most manufacturers have moved operations elsewhere.

Every good city has to have a plan in place in order to keep its economy afloat. Erie has found its answer in the same way as many former manufacturing centers, and that answer centers on diversification.

Part of this diversification has been a concentration on the service sectors of the economy, and that includes business and finance. Many SR & ED dollars have been spent by the municipal government to look at the different ways in which the business of the area can be diversified.

Some of that diversification involves manufacturing itself. While factories are no longer the huge monstrosities they once were, they still have a presence in the Erie area. Instead of buildings dozens of feet tall, with multiple smoke stacks and so on, these plants are smaller, more efficient, and more focused in their production.

Municipally, Erie has also done a lot to encourage the growth of business. Businesses are encouraged to base their headquarters in the city, carrying out national and international operations through resources such as online collaboration software. Special zoning is in place for such businesses, complete with tax incentives through the city.

A business friendly environment has meant that Erie managed to keep some of its most important businesses, including Plastik and GE Transportation. Financial giants are also represented here, as indicated through the presence of Erie Insurance group and the Marquette savings bank.

What all this means to the individual business owner is that there is still a lot of potential in Erie, despite big economic changes. A reliable job market means that even unusual businesses, such as those specializing in selling estate jewelry, can still exist comfortably. More visible businesses can even thrive.

Finally, Erie has made great strides in encouraging its tourism sector and the business opportunities which come with it. Located right on one of the most well known landmarks in the country, there is limitless potential for the tourism economy. The beautiful beaches and parks of Lake Erie draw visitors every year. Presque Isle State Park is a great attraction for many a Burlington lawyer or Waterloo doctor looking to take the family on a fun vacation during the summer time.